Role of Micro, Small and Medium Enterprises in Economic Development

2 Pages Posted: 21 Aug 2019

See all articles by MD. Joynal Abdin

MD. Joynal Abdin

Dhaka Chamber of Commerce & Industry (DCCI)

Date Written: August 16, 2019

Abstract

Micro, Small and Medium Enterprises (MSMEs) are the largest segment of an economy. They accounts for 25 percent of Bangladesh GDP and employed 87% of civilian population. MSMEs are playing a very important role in employment generation, resource utilization and income generation to a large segment of the society. Therefore; they are vital for economic development of any country. As a result the government of Bangladesh provided significant importance to MSMEs in National Industrial Policy 2016, SME Policy Strategies 2005 and upcoming drafts of both the policies. Bangladesh Small and Cottage Industries Corporation (BSCIC) was established in 1957, Small and Medium Enterprise Foundation (SME Foundation) was established in 2007 and a significant number of development projects were implemented to facilitate establishment and promotion of MSMEs in Bangladesh.

Keywords: MSME, Economic Development, Role of SME

JEL Classification: F63

Suggested Citation

Abdin, MD. Joynal, Role of Micro, Small and Medium Enterprises in Economic Development (August 16, 2019). Available at SSRN: https://ssrn.com/abstract=3438925 or http://dx.doi.org/10.2139/ssrn.3438925

MD. Joynal Abdin (Contact Author)

Dhaka Chamber of Commerce & Industry (DCCI) ( email )

DCCI Building, 65-66 Motijheel C/A
Dhaka, 1000
Bangladesh

HOME PAGE: http://dhakachamber.com

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